Glasgow deal for advisory firm 1825

Standard Life’s advice firm 1825 has added another business to its portfolio, buying Glasgow-based IFA Munro Partnership for an undisclosed fee.

Munro, established in 1982, has £600 million of assets under advice and eight financial planners, as well as five paraplanners and 15 support staff.

Chairman Stephen Munro and managing director David Hughes will remain with the business which will become the Scottish base for 1825.

The deal is the second in a week for 1825 which bought Norwich-based Almary Green as its foothold in the East of England. It acquired Yorkshire-based Pearson Jones last February.

It now has 59 advisers and £2.6bn of assets under advice. It has a target of 150 advisers across the country in regional hubs.

Mr Hughes said: “Having access to the resources of a national financial-planning business will ensure our clients will benefit from leading financial planning services and innovative investment solutions, which will continue to evolve as their needs and the world around us changes.

“Importantly, both 1825 and Munro Partnership are focused on developing their people and joining 1825 will ensure our employees have even more opportunities to progress and develop personally.”